Q3 2024 Earnings Forecast for Forge Global Holdings, Inc. Issued By William Blair (NYSE:FRGE)

Forge Global Holdings, Inc. (NYSE:FRGE - Free Report) - William Blair reduced their Q3 2024 earnings per share estimates for Forge Global in a research note issued on Wednesday, March 27th. William Blair analyst J. Schmitt now expects that the company will post earnings per share of ($0.09) for the quarter, down from their prior forecast of ($0.08). The consensus estimate for Forge Global's current full-year earnings is ($0.35) per share. William Blair also issued estimates for Forge Global's Q4 2024 earnings at ($0.09) EPS, FY2024 earnings at ($0.39) EPS and FY2025 earnings at ($0.32) EPS.

Several other research analysts have also issued reports on the stock. JMP Securities reiterated a "market outperform" rating and issued a $7.00 price target on shares of Forge Global in a research note on Thursday. Oppenheimer reiterated an "outperform" rating and issued a $3.50 price target on shares of Forge Global in a research note on Wednesday.

Forge Global Stock Performance

Shares of NYSE FRGE traded down $0.15 during mid-day trading on Friday, hitting $1.93. 1,197,422 shares of the stock traded hands, compared to its average volume of 1,238,929. The company has a market cap of $346.44 million, a price-to-earnings ratio of -3.71 and a beta of 2.60. The stock has a fifty day moving average price of $1.94 and a 200-day moving average price of $2.43. Forge Global has a 52 week low of $1.10 and a 52 week high of $4.02.

Insider Buying and Selling

In related news, CEO Kelly Rodriques sold 24,818 shares of the firm's stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $1.77, for a total value of $43,927.86. Following the sale, the chief executive officer now owns 10,139,507 shares in the company, valued at $17,946,927.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 114,818 shares of company stock worth $269,377 in the last three months. Insiders own 11.26% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Citigroup Inc. bought a new stake in Forge Global during the 1st quarter worth approximately $28,000. Penserra Capital Management LLC bought a new stake in shares of Forge Global during the 1st quarter valued at $193,000. Rhumbline Advisers lifted its stake in shares of Forge Global by 4.6% during the 3rd quarter. Rhumbline Advisers now owns 130,470 shares of the company's stock valued at $265,000 after buying an additional 5,703 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in Forge Global by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 2,548,972 shares of the company's stock worth $8,743,000 after buying an additional 6,487 shares during the period. Finally, State Street Corp increased its stake in Forge Global by 2.0% in the 3rd quarter. State Street Corp now owns 334,117 shares of the company's stock worth $585,000 after buying an additional 6,500 shares in the last quarter. Hedge funds and other institutional investors own 40.67% of the company's stock.

About Forge Global

Forge Global Holdings, Inc operates a financial services platform in California. The company offers trading solution, a platform that connects investors with private company shareholders and enables them to efficiently facilitate private share transactions; and custody solution, which enables clients to securely custody and manage assets.